Wed.May 24, 2023

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Tips to Reduce Business Expenditures and Boost Profitability

CFO Share

Running a successful business is eventually all about profitability, and one of the best ways to achieve this is to reduce business expenses. However, cutting expenses can be a daunting task, and it’s easy to cut too deep and negatively impact your business. In this article, we will explore five practical tips to reduce business expenses and boost profitability.

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C-suite leaders see AI boosting productivity: KPMG

CFO Dive

Top executives expect AI will especially improve efficiency in a range of finance functions.

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Trending Sources

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Why Business Process Automation Is Important: Exploring the Benefits

Navigator SAP

Don’t you wish there were more hours in a day to finish everything you need to accomplish? We know you want to maximize your team’s output, so many business owners are turning to business process automation to help with manual tasks.

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Fed officials disagreed on need to raise rates in June

CFO Dive

Financial markets signal expectations that the Fed will reverse course and begin to trim borrowing costs as early as September.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Foul Mood?

Barry Ritholtz

This week saw the release of the Fed’s big annual research report, Economic Well-Being of U.S. Households in 2022. It’s chock full of great charts and analyses, covering everything from Income, Employment, Expenses, Banking and Credit, Housing, Student Loans, Retirement and Investments, and Overall Financial Well-Being. Peter Coy fleshes out lots of the details here: “ Unemployment Is Low, But So Is the National Mood.” He notes: “The Fed report is consistent with ot

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More Trending

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5 Screening Questions To Assess Client Readiness And Appropriateness (And Why It’s Especially Useful For Some Firms)

Nerd's Eye View

Screening calls are a common part of the prospecting process for financial advisory firms, particularly those that receive a large number of inquiries, and can help determine whether a prospective client might be a good fit. At the same time, these calls can be awkward for both the prospect and the advisor, as the prospect might be asked to discuss personal information about their finances with someone they have never met before, and the advisor has to ask potentially thorny questions, such as w

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TripleLift hires ex-Politico CFO

CFO Dive

The Politico alum joins executive colleagues from Yahoo and Amazon in TripleLift’s C-suite as the company looks toward its next phase of growth amid data privacy and economic challenges.

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India Inc supports employees with special needs children

CFO News

They are offering support in the form of medical coverage, resource groups, caregiving leave, access to learning materials, and employee assistance programmes, to not just ensure these children are given a chance to thrive but also help improve mental health and productivity of employees.

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Ransomware: Singapore reports the highest rate of attacks

Future CFO

Singapore had the highest rate of ransomware attacks, with 84% of organisations surveyed reporting they were a victim of this type of attack, up from 65% in the previous year, said Sophos when releasing its State of Ransomware 2023 report. In addition, in 61% of attacks on surveyed organisations from Singapore , adversaries succeeded in encrypting data with 53% of those who had data encrypted paying the ransom to get their data back, Sophos noted, adding that this is up from 48 per cent last yea

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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73 per cent of Indian firms were hit by ransomware attack in 2023: Report

CFO News

According to the report the main causes of ransomware attacks were examined, exploited vulnerability (in 35 per cent of cases), followed by compromised credentials (in 33 per cent of cases) emerged as the chief causes.

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Welcome Ron Walker

Focus CFO

We are delighted to announce that Ron Walker has joined the FocusCFO team in Columbus Metro. Ron has over 25 years of experience in finance, accounting, and sales operations, working directly with senior business leaders. He has experience in the financial services, manufacturing, and distribution industries.

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Crackdown on tax violations: 10,000 fraud GST registrations turn up in first week of drive

CFO News

In many cases, officials found forged electricity bills, property tax receipts and rent agreements were used as proof of principal place of business to obtain GST registration.

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Welcome Patrick Hynes

Focus CFO

We are delighted to announce that Patrick Hynes has joined the FocusCFO team in Columbus Metro. Patrick brings over 25 years of diverse business and financial leadership experience, including working in the retail and manufacturing industries. He possesses key competencies in financial forecasting, modeling, and executive reporting.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

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PMLA Amendments: Pendulum swings from under-regulation to over-regulation

CFO News

Ex-ICAI Pres Amarjit Chopra feels PMLA Amendments are contrary to the principles of Ease of doing Business. He says laws need to have a deterrent effect for non-compliances but they should not instill fear in the minds of entrepreneurs and professionals to an extent so as to bring down the level of economic activity in the country.

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Why Manufacturing Matters and How It Drives the Economy

Financial Analyst Insider

The manufacturing industry has led to many jobs and the production of goods and services, bringing ease into our daily lives. Industrialisation is one of The post Why Manufacturing Matters and How It Drives the Economy appeared first on Financial Analyst Insider.

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Fitch puts US rating on negative watch as debt deadline looms

CFO News

Ratings agency Fitch put the United States' credit on watch for a possible downgrade on Wednesday, raising the stakes as talks over the country's debt ceiling go down to the wire, and adding to the jitters in global markets.

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10 Wednesday AM Reads

Barry Ritholtz

My mid-week morning train WFH reads: • Will The U.S. Economy Pull Off a ‘Soft Landing’? In the ’70s and ’80s, we thought that you needed to raise unemployment to fight inflation. Next, we thought that cooling down inflation would require higher unemployment. In the early ’70s, economists thought that price controls could slow inflation. …and were surprised when unemployment stayed low.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Germany enters recession after GDP falls for second successive quarter

CFO News

Gross domestic product fell by 0.3% for the quarter when adjusted for price and calendar effects, the data showed. This follows a decline of 0.5% in the fourth quarter of 2022. A recession is commonly defined as two successive quarters of contraction.

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ED raids at 25 locations for alleged forex violations by gaming apps

CFO News

The Enforcement Directorate (ED) on Wednesday conducted fresh searches at 25 locations for alleged forex violations by gaming apps. ​"Remittance of Rs 4000 crore send in the guise of payments for import of good and services," stated ED.

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Banks mull common framework on hearing borrowers before fraud tag

CFO News

A committee will be set up soon to draw up the framework, said the people cited above. It will detail the process of approaching borrowers, the documents to be submitted and reports to be given to them, along with timelines and the course of action.

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'Go First lessor's plea to deregister aircraft has not been rejected yet'

CFO News

The Directorate General of Civil Aviation (DGCA) on Wednesday told the Delhi High Court that it has not rejected but kept in "abeyance" its decision on aircraft lessor Pembroke Aircraft Leasing's application for deregistering its aircraft, currently on lease with Go First.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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LIC investments in Adani surge to Rs 45,000 crore, but still below peak of Rs 88,000 crore

CFO News

Stock exchange data reveals a notable turnaround in the stocks of flagship companies Adani Enterprises (AEL) and Adani Ports and SEZ (APSEZ)

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Tatas eye bigger play in electronics, semicon manufacturing; Matrix closes largest India fund at $550 million

CFO News

Ahead of its possible foray into the semiconductor space, Tata Group is scouting land near its electronics manufacturing facility in Tamil Nadu to expand operations, sources told us. This and more in today’s ETtech Morning Dispatch.

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DoT, Industry on opposite ends of satellite spectrum

CFO News

Telecom operators Reliance Jio and Vodafone Idea are backing DoT, while Bharti Enterprise-backed satcom firm OneWeb has joined the rest of the industry to demand administrative allocation of satellite spectrum.

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Bikaji Foods to grow at a faster pace, cash flow to turn positive this year: Management

CFO News

"In the years to come, value and volume growth would be in line. Unlike yesteryears, where the value increase has been by far higher than the volume growth, that is what we look at and for the rest, there are certain things which are unseen but for all our budget purposes, for all our planning, we are looking at value and volume growth as the same.

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Tariffs on the Table: How to Brief the Board and C‑Suite With Confidence

“What should we do about the tariffs?” There’s no straightforward answer — every leader has a different expectation. CFOs want numbers. COOs want action. CEOs want strategy. And supply chain and procurement leaders need to be ready with the right response — fast. That’s why GEP has created a simple three-part framework that will help CPOs and CSCOs brief the board and C-suite with clarity and confidence.